Brokerages Set Diversified Energy Company PLC (NYSE:DEC) Price Target at $21.17

Diversified Energy Company PLC (NYSE:DEC) has received an average rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $21.1667.

A number of equities analysts have recently weighed in on DEC shares. Stephens assumed coverage on Diversified Energy in a research note on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price objective for the company. Citigroup lowered their price target on Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings lowered shares of Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Truist Financial lowered their target price on shares of Diversified Energy from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Finally, Zacks Research cut shares of Diversified Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th.

Hedge Funds Weigh In On Diversified Energy

Several institutional investors have recently added to or reduced their stakes in DEC. EIG Asset Management LLC bought a new position in shares of Diversified Energy during the 4th quarter valued at approximately $139,031,000. Ameriprise Financial Inc. lifted its position in Diversified Energy by 11.8% during the third quarter. Ameriprise Financial Inc. now owns 4,108,991 shares of the company’s stock valued at $57,567,000 after purchasing an additional 435,222 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Diversified Energy during the fourth quarter valued at $46,334,000. Artemis Investment Management LLP grew its stake in shares of Diversified Energy by 114.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock worth $37,555,000 after buying an additional 1,384,073 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in shares of Diversified Energy by 47.6% in the 3rd quarter. Citadel Advisors LLC now owns 2,379,205 shares of the company’s stock worth $33,333,000 after buying an additional 767,378 shares in the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Trading Up 0.3%

Shares of Diversified Energy stock opened at $13.50 on Thursday. Diversified Energy has a fifty-two week low of $12.33 and a fifty-two week high of $18.90. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $976.18 million, a P/E ratio of 3.83 and a beta of -0.38. The company has a fifty day moving average of $13.58 and a 200 day moving average of $14.43.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, August 28th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date is Friday, August 28th. Diversified Energy’s payout ratio is currently 32.95%.

About Diversified Energy

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.